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Global Purpose-built Backup Appliances Market to Progress at 10.79% CAGR between 2017 and 2021

Press Release   •   Aug 31, 2017 05:57 EDT

As per a new study, recently added to the vast depository of, the global market for purpose-built backup appliances is estimated to rise at a healthy CAGR of 10.79% over the period from 2017 to 2021. The report is titled “Global Purpose-built Backup Appliance Market 2017–2021” and it talks about the current and future scenarios in this market, taking the prominent trends, key driving forces, obstructions, challenges, opportunities, and the growth rate in consideration.

According to the report, the increasing need for virtualization in the IT industry is fueling the demand for purpose-built backup appliances across the world, leading to a high growth rate of this market. Over the coming years, the market is anticipated to gain from the augmenting demand for integrated backup appliances, notes the research study.
The research report has assessed the global market for purpose-built backup appliances on the basis of the end user of these appliances and the regional reach of this market. Based on the end user, the market has been bifurcated into the telecom, retail, BFSI and the healthcare sectors. The demand for these appliances has been much higher in the BFSI sector, as this sector is highly regulated. A purpose-built backup appliance is primarily utilized for storage and as a recovery solution under rules, states the research report.
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In terms of the geography, the worldwide market for purpose-built backup appliances reports its presence across the Americas, Asia Pacific (APAC), and Europe, the Middle East, and Africa (EMEA). The Americas, among these, have acquired the dominant position and is anticipated to retain it over the period of the forecast. The increasing uptake of cloud-based solutions of storage and backup among large-, medium-, and small-sized enterprises is expected to fuel the demand for purpose-built backup appliances in this region over the next few years. Asia Pacific is also projected to witness a high growth in their market for purpose-built backup appliances in the near future, reports the study.
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An assessment of the competitive landscape of the global market for purpose-built backup appliances has also been provided in this research report. With the presence of a large pool of vendors, the market displays a fragmented and a highly competitive structure. To sustain, the leading players in this market are focusing aggressively on the product pricing and the up-gradation of services. At fore front of this market are Dell EMC, IBM, Quantum, HPE, and Oracle. Actifio, Commvault, Barracuda Networks, Egnyte, FalconStor Software, ExaGrid, FUJITSU, iomart Group, Hitachi Data Systems, Iron Mountain, NTT DATA, NetApp, RACKSPACE, Verizon, Veritas Technologies, and Zetta are some other prominent market participants, mentioned in this research study.